M&T Bank Co. (NYSE:MTB) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 4.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,553 shares of the financial services provider’s stock after selling 118 shares during the period. Forte Capital LLC ADV’s holdings in M&T Bank were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in M&T Bank during the third quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. raised its position in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new stake in M&T Bank in the 3rd quarter valued at approximately $299,000. Stevens Capital Management LP acquired a new stake in M&T Bank during the 4th quarter valued at $320,000. Finally, Metis Global Partners LLC increased its position in M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after buying an additional 931 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 0.2 %

Shares of NYSE MTB traded up $0.31 on Friday, hitting $146.58. The company had a trading volume of 531,891 shares, compared to its average volume of 1,021,836. The firm has a market capitalization of $24.42 billion, a P/E ratio of 9.91, a PEG ratio of 1.22 and a beta of 0.78. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93. The business has a 50 day moving average of $141.64 and a two-hundred day moving average of $134.37.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the company posted $4.09 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the transaction, the director now directly owns 34,545 shares in the company, valued at $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,119 shares of company stock valued at $6,679,812. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Evercore ISI raised their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley boosted their price target on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Wells Fargo & Company upped their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods lifted their price target on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.